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Further growth was expected; import restrictions that had hindcred the progress of all Japanese brands were due to be lifted entirely on December 31, 1999. At last, Toyota could really make progress in Europe.
The appointment of Mr. Fujio Cho as President of Toyota Motor Company in early 1999 provided additional impetus. Mr. Cho took over from Mr. Hiroshi Okuda. Mr. Okuda led Toyota’s globalization efforts and later became Chairman of the Board. Mr. Okuda had made a firm commitment to European operations by setting up a new factory in France and putting Toyota Europe on a growth strategy. In addition, he installed a new President at TMME and hired a senior marketing executive from the Volkswagen Group...
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